Misleading NYS GDP Data for 2009: Federal release distorts picture of NYS’s economy

November 18, 2010. The Bureau of Economic Analysis today released advance estimates that dramatically overstate New York State’s actual economic decline for 2009 – making New York the third worst-off state – because the BEA figures are based on very partial data and exclude any information on corporate profits. A much better indicator of New York’s relative economic performance in 2009 is provided by BEA’s own data on total employment by state, which put New York tenth best of the 50 states. Release with data >>

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